Financial Information Flashcards
Data
distinct pieces of information
Information
output of data processing system
Big data
huge amounts of data characterised by increase in volume, velocity, veracity and variety
Qualities of good information (ACCURATE)
Accurate Complete Cost-beneficial User-targeted Relevant Authoritative Timely Easy to use
Data analytics
collecting, organising and analysing large sets of data to discover patterns
Structured data
obtained with a particular purpose
Unstructured data
obtained without a particular purpose
Captured data
created passively from unrelated activities e.g. smartphone tracking
User-generated
data created and voluntarily placed online
Framework for preparation and presentation of FS is published by…
International accounting standards board (IASB)
Effective, information processing (CATIVA)
Completeness Accuracy Timeliness Inalterability Verifiability Assessability
Information systems
systems and procedures involved in collection, storage, production and distribution of information
Information technology
equipment used to capture, store, transmit or present information
Secure information system (ACIANA)
Availability Confidentiality Integrity Authenticity Non-repudiation Authorisation
Management accounting
providing information to assist decision making
Treasury management
managing the funds of the business
Expert system
~ captures human expertise in a limited domain of knowledge
~ database holding specialised data and rules what to do
Knowledge work systems
creation and integration of new knowledge into an organisation
Office automation systems
increase productivity of data and information workers
Executive support/information system
database that pools data to make it available and easy to use for decision making
Data support system
combines data and analytical models to support decision making
